Overview:

This window allows you to set up depreciation bases for purposes of tracking and calculating depreciation on fixed assets. Common examples of depreciation bases are listed below. PENTA can optionally automatically book accounting entries during the depreciation calculation process for the depreciation base that is flagged as 'Book Method'. Only one depreciation base can be flagged as the book method, the remaining depreciation base calculations are for reporting only. Depreciation Life, Method, etc. is defined in the Fixed Asset Class or Asset Information window. These rules define how PENTA calculates depreciation under each depreciation base.

Examples:

Book Method
Federal Tax Method
State Tax Method

Benefits:

Ability to user define multiple depreciation bases for PENTA to track
Flagging a depreciation base as 'Book' tells PENTA to automatically book all depreciation accounting entries

Roles:

Fixed Asset Manager
Accounting Manager
CFO

Additional Content

/wiki/spaces/KCSDEV/pages/5542180

Location:

Fixed Asset Management > Setup > Depreciation Bases

Video:

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